Elon Musk raises funds through a meme coin for a scientific institution

FunGibleTom · 2026-02-04T21:05:36+00:00

Errol Musk is leveraging the popularity of meme coins to fund the Musk Institute, aiming to raise $150-200 million through the Musk It token. The project highlights the market's reaction to the Musk name while clarifying its independence from Elon Musk.

FunGibleTom

2026-02-04 21:05:36

Abstract generation in progress

Errol Musk, known as the father of the famous entrepreneur Elon Musk, has chosen an unconventional path to fund his scientific project. Together with his business partner Natan Brown, he decided to leverage the popularity of meme coins to raise capital for the development of the Musk Institute.

Ambitious fundraising plan: from idea to action

Errol Musk and Natan Brown aim to raise between $150 million and $200 million through the launch of a new meme coin called Musk It (MUSK). The funds are intended to finance the non-profit organization Musk Institute, established to promote scientific research activities. The project was launched at the end of 2025.

It is important to note: neither Errol Musk nor his partner Natan Brown are developers of Musk It. Their role was to approve the name and publicly support the project after the idea of creating a scientific center emerged.

Market reaction: a rise driven by the name

The news of Elon Musk’s father’s involvement triggered a dramatic market reaction. The value of the MUSK token increased by 288% and reached $0.0389. The market capitalization of the asset grew to $42.49 million according to Coinmarketcap. This surge clearly demonstrates how strongly the cryptocurrency market reacts to the connection with Musk’s name, even when it involves a family member of the entrepreneur.

Clarifications needed: the line between Errol Musk and his famous son

Realizing potential misunderstandings, Errol Musk gave an interview to Fortune to dispel doubts. He emphasized that his famous son Elon Musk has absolutely no connection to the Musk Institute or the MUSK meme coin. Errol also expressed concern about the possible association of the token with his son’s name.

Natan Brown added to his partner’s position: “We have been considering this project for years. If someone expects to gain support or investments from Elon through our initiative, they are missing the point of our endeavor.” This statement confirms that the project is positioned as a completely independent initiative of Errol Musk.

Thus, the story shows how Errol Musk is leveraging the current popularity of meme coins to implement his own scientific project, while carefully distancing himself from his famous son’s activities and clarifying the boundaries of this collaboration with the cryptocurrency world.

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